The Wolfe Brothers palettes are very good as well! I haven't used the Wolfe cream, but the palletes are phenomenal.

Avoid anything that you can buy at walmart, or most pop up halloween stores, that's all junk, hard to work with, and not great for actors. For the price, Mehron and Wolfe are the way to go, also check out sillyfarm.com, they have a really nice selection and can probably help you out if you call them up.

I use Mehron for airbrush, and Ben N ye for everything else. The Ben Nye is awesome makeup because it is designed for theater where actors get sweaty and stuff. Great palette as well. Dont use the Ben Nye liquid for airbrushing though. They talked me into it a few years back and I had nothing but trouble (even after watering it done considerably).

Mehron is great for base make-up. It's cheaper then Ben Nye and usually when you buy it in bulk they will give you a good discount.

Our make-up artist has used Badger water based airbrush paint to paint most of our characters. It isn't labeled as make-up grade paint, but it's water based and non-toxic so we have had no problems at all using it. Usually we will go through a large bottle a season, and that makes for a ton of make-ups. Usually you can get it pretty cheap over at Hobby Lobby with their 40% off coupon.

I agree use Mehron for air brush. But you don't need to spend the extra money for the "air brush" makeup. You can use their regular liquid makeup then by some of their mixing fluid and use 2/3 makeup 1/3 mixing fluid. Depending on your model of air brush you may need to adjust that ratio for best results. Works great and goes a long way. Also I would buy direct from Mehron. Much cheaper than getting it through one of their suppliers.